Lamb Weston's (LW) third-quarter fiscal 2020 earnings decline year over year. Also, management withdraws guidance owing to COVID-19 spread.

NEW YORK, NY / ACCESSWIRE / April 1, 2020 / Lamb Weston Holdings, Inc. (NYSE:LW) will be discussing their earnings results in their 2020 Third Quarter Earnings call to be held on April 1, 2020 at 10:00 ...

Lamb Weston (LW) has been grappling with high costs. Also, the company withdraws fiscal 2020 guidance due to the apprehended impact of the rapid spread of coronavirus.

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Lamb Weston Holdings, Inc. (NYSE: LW) (referred to as "Lamb Weston" or the "Company") announced today that it is planning, subject to market and other conditions, to offer a total of $400.0 million aggregate principal amount of its senior notes due 2028 (the "Notes") in a private offering that is exempt from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act"). It is expected that the Notes will be guaranteed by certain of the Company’s material domestic subsidiaries.

Lamb Weston (NYSE:LW) today announced its Fiscal 2020 third quarter results.

Lamb Weston Holdings, Inc. (LW) could be a stock to avoid from a technical perspective, as the firm is seeing unfavorable trends on the moving average crossover front.

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Lamb Weston Holdings, Inc. (NYSE: LW) (referred to as "Lamb Weston" or the "Company") announced today that it has priced the previously announced offering of a total of $500.0 million aggregate principal amount of its 4.875% senior notes due 2028 (the "Notes") in a private offering that is exempt from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act"). The aggregate principal amount of the offering was increased from the previously announced offering size of $400.0 million. The Notes will be guaranteed by certain of the Company’s material domestic subsidiaries. The closing of the offering of the Notes is expected to occur on or about May 12, 2020, subject to customary closing conditions.

Shares of Lamb Weston Holdings (NYSE:LW) fell over 12% on Wednesday after the company reported Q3 results.Quarterly Results Earnings per share fell 18.95% year over year to $0.77, which missed the estimate of $0.93.Revenue of $937,300,000 up by 1.13% year over year, which missed the estimate of $959,190,000.Outlook Lamb Weston Holdings hasn't issued any earnings guidance for the time being.Revenue guidance hasn't been issued by the company for now.Details Of The Call Date: Apr 01, 2020View more earnings on LWTime: 10:03 PM ETWebcast URL: https://globalmeet.webcasts.com/starthere.jsp?ei=1288600&tp_key=5ed9057866Price Action Company's 52-week high was at $96.3252-week low: $39.06Price action over last quarter: down 36.92%Company Profile Lamb Weston is the world's second-largest producer of branded and private-label frozen potato products, such as French fries, sweet potato fries, tots, diced potatoes, mashed potatoes, hash browns, and chips. The company also has a small appetizer business that produces onion rings, mozzarella sticks, and cheese curds. While 80% of revenue are U.S.-based, the firm also sells its products in Canada, Japan, China, Korea, Mexico, and several other countries. About 86% of the firm's products are distributed into the foodservice channel, while the remaining 14% is sold through retail. Lamb Weston became an independent company in 2016 when it was spun-off from Conagra.See more from Benzinga * UniFirst: Q2 Earnings Insights * 7 Real Estate Stocks Moving In Wednesday's Pre-Market Session * 20 Healthcare Stocks Moving In Wednesday's Pre-Market Session(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Lamb Weston Holdings, Inc. New York, April 13, 2020 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Lamb Weston Holdings, Inc. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.

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Moody's Investors Service, ("Moody's") today assigned a Ba2 rating to $400 million of 8-year senior unsecured notes being offered today by Lamb Weston Holdings, Inc. ("Lamb Weston"). All of Lamb Weston's existing ratings, including its Corporate Family Rating (CFR) at Ba1, Probability of Default Rating at Ba1-PD, and Speculative Grade Liquidity Rating at SGL-1, remain unchanged. Lamb Weston has increased its liquidity position in recent weeks as a precautionary measure and to preserve financial flexibility given uncertainties in global markets due to the coronavirus pandemic.

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Lamb Weston (LW) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.

Q4 2019 Lamb Weston Holdings Inc Earnings Call

Lamb Weston (LW) delivered earnings and revenue surprises of -16.30% and -1.71%, respectively, for the quarter ended February 2020. Do the numbers hold clues to what lies ahead for the stock?

Strength in the Global segment is likely to get reflected in Lamb Weston's (LW) third-quarter fiscal 2020 performance. However, increased manufacturing and SG&A costs are concerns.